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The term 'Data Processor' refers to a role that manages data on behalf of data controllers. This definition is rooted in data protection regulations, such as the General Data Protection Regulation (GDPR), which clarifies the responsibilities and obligations of parties involved in data handling. A data processor is typically an organization or entity that processes data according to the directives of the data controller, who determines the purposes and means of processing personal data.

The role of the data processor is crucial because it signifies that while they execute data processing, they do so without ownership of the data's purpose or control. This delineation between data controllers and data processors is essential for compliance and accountability regarding data protection standards.

In context, an individual responsible for data analysis, a system used to secure data, or a software application for data storage do not fully encompass the specific legal and functional implications of the data processor role. The data processor's responsibility is primarily about executing data processing tasks following the data controller's instructions, making option B the correct interpretation of the term.